Money Daily Brief: Thin holidays for US retailers

US holiday sales are expected to fall 1 percent, the National Retail Federation says.

ByBen HancockOctober 6, 2009

Things were so tough last year that this Santa had to carry his own bags in New York City. US holiday sales, which fell 3.4 percent in 2008, are expected to fall 1 percent this year, according to a new report.

Mike Segar/Reuters/File

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– Updated 3:30 p.m. (20:30 UTC)

•Holiday gloom: With unemployment near 10 percent and consumer confidence sinking, holiday retail sales in the US will probably drop 1 percent, an industry report predicted. That's not as sharp as last year's 3.4 percent drop, the first decrease since the National Retail Federation began tracking November-December sales in 1995.